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COMBINED MOTOR HOLDINGS LIMITED - Share Repurchase Finalisation Announcement

Release Date: 17/01/2014 11:30
Code(s): CMH     PDF:  
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Share Repurchase Finalisation Announcement

Combined Motor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1965/000270/06)
(Income tax reference number 9471/712/71/2)
Share code: CMH ISIN: ZAE000088050
(“CMH” or “the Company”)


SHARE REPURCHASE FINALISATION ANNOUNCEMENT

For ease of reference, the definitions and interpretations as contained in the circular to shareholders of the Company dated 11
November 2013 (“the Circular”) and as used in this announcement, bear the corresponding meanings.


Shareholders are referred to the terms announcement dated 11 November 2013, wherein it
was announced that the Company intends making an offer to all Shareholders to voluntarily
tender for repurchase at R13.00 per share in cash all, or a portion only, of their holding of
ordinary shares in the Company.

In accordance with sections 48(8), 114(e) and 115 of the Companies Act, 2008 (Act no. 71 of
2008), in order for the Share Repurchase Offer to be made and implemented, the prior
approval of Shareholders in general meeting was required, which approval was obtained on
Tuesday, 10 December 2013.

The Share Repurchase Offer opened at 09:00 on Wednesday, 11 December 2013.
Accordingly Shareholders are reminded of the following dates:

                                                                                                              2014

   Share Repurchase Offer last day to trade in Shares in order                                  Friday, 24 January
   to be registered as a Shareholder in the Register of the
   Company at the Share Repurchase Offer record date

   Shares trade “ex” the right to participate in the Share                                      Monday, 27 January
   Repurchase Offer

   Share Repurchase Offer record date being the date by                                         Friday, 31 January
   which a Shareholder must be recorded as such in the
   Register of the Company in order to be entitled to
   participate in the Share Repurchase Offer, on

   Share Repurchase Offer closing date being the expected                                       Friday, 31 January
   date for the closing of the Share Repurchase Offer at 12:00
   on

   Share Repurchase Offer payment date being the expected                                      Tuesday, 4 February
   date for the settling of the Share Repurchase Offer
   Consideration on or about

   Expected date for the delisting from the JSE of the Shares                                Wednesday, 5 February
   repurchased in terms of the Share Repurchase Offer from
   the commencement of trading on the JSE on


If the maximum number of 15 400 000 shares is repurchased in terms of the Share Repurchase
Offer, the gross deemed dividend distribution element of the Share Repurchase Offer payable
will be R196 842 800. This dividend will be distributed from income reserves. There are no STC
credits available for utilisation. The dividend will be subject to dividend withholding tax at a rate
of 15%, which will result in a net dividend of 1086,5 cents to those shareholders who are not
exempt in terms of section 64F of the Income Tax Act.

17 January 2014

Sponsor

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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